The pair is trading within a 2 year 1M Bearish Megaphone pattern that is currently testing its Lower High trend line (hence the neutral RSI = 48.838, ADX = 27.266, Highs/Lows = 0.0000). What's really interesting is the fact that this pattern is symmetrical to the 2016/2017 rise. Based on that if the price rebounds now above 1.7200, there are high chances to break...
The price has broke Support/Resistance Zone and can continue falling down to the Mirror Level 1.74437. The best entry will be after the pullback to zone. Before to trade my ideas make your own analyze. Write your comments and questions here! No need to write it in PM. Thanks for your support!
Based on the daily time frame GBPSGD has been trending up heavily. However based on my knowledge in the markets I've spotted a Gartley Harmonic pattern on the daily, hence my bias is bearish depending if current price continues to reject my orange zone. The Red Lines Represent My S & R Levels The orange zone is my D point for a daily bearish Gartley that has completed.
GBPSGD bounced off 1.74860 where it could potentially rise further to 1.76483. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPSGD is expected to drop to 1st support at 1.72191 where it could potentially react off and up to 1st resistance at 1.73065. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
The price above 200 MA, indicating a growing trend. The MACD histogram is above the zero lines. The oscillator Force Index is above the zero lines. If the level of resistance is broken, you should follow the recommendations below: • Timeframe: H4 • Recommendation: Long Position • Entry Level: Long Position 1.7085 • Take Profit Level: 1.7200 (115 pips) If the...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.6908). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPSGD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support....
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.6908). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPSGD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support....
We can open BUY in marked Zone at the begining of trading session in Monday because: - The price is near 33-Months Low 1.66716. - Weekly candle made a fake breakout of this level and it's a huge pisibility to close above. - If GBPSGD will bounce from this Low we will have great trade with sweet risk/reward correlation.
Looking for a retest of support prior to long position on GBPSGD
I will open buy if the price will make a fake broke of 1.73508 - 1.73508 powerful level and 14 Feb Low - After fake broke we will have a low risk - Potential profit in 10 times bigger
price at demand zone we'll see if it will hold...
Trade the bounce till structure breaks.